Exactly same situation and I got exactly the same answer. I'll just leave June with no fixed rate and start from July.

pj019

This product was released on 29th May. I had a fixed term coming to an end, and am eligible to switch from 01 June. Nationwide advised that the earliest this new rate could start would be 01 July because they wouldn't have enough time to process it for 01 June. Has anyone else encountered this or similar? If so, what was the result? Hot for the product. Less so for the service that goes with it.

Iver been in the market for a new mortgage - Initially went enquired with nationwide..what a joke - the 'advisor' was useless and took nearly 30 mins yto get my basic address details input! I gave up in the end. Also agree that those adverts are so bad that I really didnt want to give them 1st shout but rates seemed good. Anyway after that awful 1st customer interactoion experience i went and applied elsewhere, awaiting a decision ( now 8 days at the underwriter!) but they are making me jump through hoops on the application despite having a 65% LTV. Guess this backs up some of the comments in this thread.

As with a lot of mortgage deals on here you get loads of the fees not worth it without any calculations... done a wee spreadsheet(just knocked this up so not cross checked the answers yet) for a given rate and fee the break even rates and amounts for a matrix of values of rate difference and mortgage amount for a range of terms based on the monthly payment of the fix rate with fee which is close enough for this exercise. for this 1.19% £999 fee 2 year fixed term (formatting is rubbish can you do tables here?)
Mortgage amount break even rate Full term
£50,000
£100,000
£150,000
£200,000
£300,000
5
2.449%
1.816%
1.606%
1.502%
1.398%
10
2.315%
1.749%
1.562%
1.469%
1.376%
15
2.276%
1.730%
1.549%
1.459%
1.369%
20
2.258%
1.721%
1.543%
1.455%
1.366%
25
2.247%
1.716%
1.540%
1.452%
1.365%
30
2.240%
1.712%
1.538%
1.450%
1.364%
rate difference break even mortgage 0.10%
0.20%
0.30%
0.40%
0.50%
5
£621,402.08
£310,499.14
£206,864.93
£155,047.90
£123,957.75
10
£555,640.58
£277,599.60
£184,919.38
£138,579.35
£110,775.40
15
£536,724.67
£268,135.68
£178,606.13
£133,841.44
£106,982.69
20
£527,756.36
£263,648.61
£175,612.81
£131,594.99
£105,184.37
25
£522,529.74
£261,033.59
£173,868.31
£130,285.76
£104,136.29
30
£519,112.37
£259,323.76
£172,727.67
£129,429.71
£103,451.00 For a nationwide borrower with the no fee fix at 1.69% (+0.5%) the break even is as low as £105k with a term 20 years or longer.

djames108

Looks like a good deal for 90% (y) Just be careful not to end up with negative equity

Daz555

Economy is about to crash and we could be in recession or even depression. I can't see interest rates going up any time soon.

seckinboy

I don’t know much about mortgages but I just purchased my first home, 90% loan, 1.84% interest fixed for 2 years. £999 fee although they are paying me back £500. Can anyone let me know if this was good for a first one buyer? And what I should do end of the 2 years?

Hopefully this arrangement fees will be refunded the same as PPI at some point. It is insane to pay interest and arrangement fee, what is the service for the arrangement fee?

getmore4less

If you want to compare properly by paying the fee up front you have to take the fee off the mortgage without the fee. if you don't make the payment the same you have to account for the costs/savings of the difference in payment by making an assumption like what the interest rate will be easier to just make the payments the same to get the base result then decide if there are better options like saving or the preference to have a smaller payment and spend it. You can then work out the true cost of not paying down the mortgage once you have the comparison of the no fee/fee for a level of borrowing that is like for like you an then decide if the money in the bank is preferable even though it will cost you once you decide what borrowing you need and the monthly payment It does not matter how you wrap it up the comparison to see which is cheaper is X against X+fee with the same monthly payment Want more money in the bank at the start borrow more. Want a smaller payment make the term longer or just decide how much you need and what payment you want then do the comparison. then work out what term is needed to get the payment you want. Anyone planning to overpay should use the planned payment not the contractual payment

jakeyjakey

Bit confused. The savings you get from paying the upfront fee ARE the monthly difference so why would you make the payments equal? whag have I missed to give different outcomes? Also I think you’re assuming someone could pay down the 999.99 upfront on the higher rate though if they’re going for the higher interest it might be because they can’t do that.

biketime08

I think these deals are ok if you have a big mortgage. The Nationwide have a really simple mortgage calculator just for the figures. But people are right often the fees wipe out the benefits of the lower rate. Especially if you have a relatively small mortgage. Easy to check.

getmore4less

The simple way to compare is to add the fees and make the payment the same and see whats left. that's 2 calculations in any simple mortgage calculator that lets you set the payment. If you just do the regular mortgage you have to take account of the difference in payment and the fee in some way. You may have a better savings rate or just want to spend it. Taking the example above using the MSE calculator and doing it taking account of the fees and payments. £100k 20y 1.44% £999 fee V 1.69% £0 fee amount.........rate.....payment.owing.........interest.....total cost...total payments
£100,000.00
1.44%
£479.79
£77,630.31
£6,417.77
£7,416.77
£29,786.46
£100,000.00
1.69%
£491.33
£78,072.03
£7,552.02
£7,552.02 £29,479.99 that shows the fee has amount owing £442 lower, interest £1134 lower cost lower by £135 payments out(Inc fee) higher £307 NET £135 Then add the fees so the cash position is the same at the start(MSE does this). amount.........rate.....payment.owing.........interest.....total cost...total payments £100,999.00 1.44% £484.58
£78,405.84
£6,481.88
£7,480.88 £29,075.04
£100,000.00 1.69% £491.33
£78,072.03
£7,552.02
£7,552.02 £29,479.99
amount owing £334 more, interest £1072 lower cost(with fee) £72 less, payments out £405 lower NET £71 then make the payments the same(cash flow now the same for both just look at whats left.). amount.........rate.....payment.owing.........interest.....total cost £100,999.00
1.44%
£491.33
£77,986.22
£6,467.21
£7,466.21
£100,000.00
1.69%
£491.33
£78,072.03
£7,552.02
£7,552.02 NET £86 (the numbers are a bit different to MSE because it depends on any rounding and exact parameters into the functions uses.) Once you have the relative costs for each option you can consider other factors like interest rates on savings, having the lower payment. Also paying the fee up front or not makes a small difference as it is just the same as overpaying by £999, all you are doing is borrowing less and the savings go down a bit. amount.........rate.....payment.owing.........interest.....total cost £100,000.00
1.44%
£486.42
£77,217.86
£099,001.00
1.69%
£486.42
£77,292.09 NET £74

Yep. That's correct. £10.38 in both mine and joint account for the full month.

derbyduckie

Applied 21st, got it 24th, put £2500 in 25th, just got £9.4 in interest... not the full amount of £10.4, but weird how they calculate this

Ghostcrawler

Right..so you have got internet for 17 days but your 12 months offer will get over next year 14 May, so next year you will get interest for 14 days...this will make your full 12 months cycle. You may reach out to the support team to confirm this, hopefully I am not wrong.

Maka20

Yes, received all documents on 15th and put 2500 on the same day.

Ghostcrawler

You must have not kept £2500 for full month then.

503°
Expired

Posted 26th JanPosted 26th Jan

£500 Cashback for First Time Buyers then Mortgage Genie TCB for more £££

£4£999

Not too many deals on mortgages for first time buyers on HUKD so here is what I found. Nationwide is very competitive for 5% (95% LTV) deposit and the best I found for 10% (90% LT… Read more

I've never seen a broker offer a better deal, in my limited experience. 1.84% with Nationwide on a Fixed 2yr with fee 90% LTV. https://www.nationwide.co.uk/products/mortgages/our-mortgage-rates

Flappybunnyman

1.99% for 50% LTV but rates are typically better now. The broker found the exact same deal as was on the nationwide website. In my case, no it wasn’t worth using the broker - but due to my first mortgage it was peace of mind I guess.

-148°
Expired

Posted 17th Oct 2019Posted 17th Oct 2019

Triple Access Saver/ISA 1.21% Nationwide Building Society

I know there's certain online providers that will give you a higher rate of interest but just had a email that they have just released this savings account. " Savers who are happy… Read more

Ah I don't think they do that anymore - and haven't been with them for 15 years.

StanTheIronMan

All banks taking the "P" out of savers. When you get less interest than inflation rates the banks are stuffing the profits in their own pockets. Stick it in a mattress until the banks put their heads on the right way.

paza123

Nationwide. 15 year loyalty isa

Mike626

Who's that with?

monitor1

Cold,Nationwide not paying much interest just lately.The Coventry savings account only allows Up to 3 penalty free withdrawals a year.

The above deal will net you about £75 for the year. The flipping it into regular savers will net you about £110. Obviously it's not life changing, but it's £35 for almost no work.

tom_duffy

How much would that net you in total I’m to lazy (or incapable) to work it out :o

erikax

Glad I fell on this thread I've been looking at savings acc been a long term saver with Halifax and noticed int rate was 0.03 or something insanely low but not had chance to look into best save acc for interest il be having a look tonight though &#x1F44C;

nbgrobbo

I didn’t have to post ID when setting up, electronic checks are av

KongDonkey

That's with online banks and can involve credit checks and posting ID to them. Some people would rather the ease of just dealing a high street bank. That extra 0.25% may get an extra £15 over the 18 months on the £5000 which may be worth it for some though.

-82°
Expired

Posted 8th Sep 2019Posted 8th Sep 2019

Our online FlexDirect account pays 5% AER interest fixed for the first 12 months up to £2,500 balance at Nationwide Building Society

Why is this cold? What am I not understanding. 2.5% rate is ok for money you want to put towards a house isn't it?

westernise

The only thing that truly baffles me is that people on benefits would get penalised for having these types of products. The DWP penalises benefits claimants for having any more than 6k in savings. No wonder the benefits trap exists.

Ashe

I don't think anyone has said the T&amp;Cs stipulate that. There's a comment saying you need to buy a first time property to qualify for the bonus, and my comment saying that the terms state you need to be an "Eligible Customer" from the H2B scheme rules to open it, but nothing that says you need to open it only for the purpose of buying a 1st time property.

diktiomenos

My understanding is that this document refers to claiming the government bonus when purchasing an eligible 1st time property and not to open an account. That's because it specifically asks for an address and purchase price of the acquired property (which would be irrelevant when you merely open an account with the intention to buy a property several years down the line) and the -existing- H2B ISA account number. And further down it says "I have operated my Help to Buy: ISA in accordance with the terms and conditions" which also openly implies that you have already a H2B ISA. Now, someone else commented that the bank's T&amp;Cs stipulate that you have to open this type of account with the only purpose of buying a 1st time property and thus just opening one for general savings instead (as LISAs expressly allow you to do) isn't allowed. That's debatable in my opinion, but it's even more questionable how enforceable -by a bank- such a term can be anyway.

DazLFC

2.57% with Barclays

236°
Expired

Posted 26th Jun 2019Posted 26th Jun 2019

Up to £450 (switch bonuses & interest) for you & a "friend" for switching to Nationwide

Well I posted this same deal over a year ago but it's still the same so thought I'd re-share. No brainer free money in my view... First of all... just a reminder that referral com… Read more

This has been on for years now, I've had one for years, nothing special.

Anon32

Apart from nationwide just closed its regular saver account. No shareholders to pay so more money for the chief executive and his cronies.

holeymoley18

Sorry, the way I read your post made me think that you didn't see the point in having instant access to cash if that meant a low rate hovering around 1.5%. Personally don't care if that's in an ISA or a current a/c, but the latter often involves a credit search whereas savings accounts dont. Also emergency finds are hopefully long term savings, therefore to have them wrapped up in a non-taxed blanket makes sense to me if the rates are basically the same.

MrKrabs

Open a bank account then. Several offer 1.5% to £5000 like lloyds, some pay 5% interest for smaller amounts. Only advantage of the 1.45% cash ISA is you won't pay tax.

holeymoley18

Everyone should aim for 3-6 months worth of outgoings in ready to access savings. The cost of liquidity is a lower rate of interest, but imo that is a sacrifice worth making. Anything above and beyond that could be 'spent' as you suggest.

I have a nationwide account but I don’t think I’m signed up to Simply Rewards, how do I confirm?

BanjoBob

You could have downloaded and used it in the time it took to write that post. It’s easy to use. Don’t like BP’s prices? Don’t use the app!

barnehurst

Do I want another fiddly app on my phone in order to save £5 off some overpriced BP petrol ? No Make it £20 off and I might consider

thedean1999

Never a genuine 12% saving unless you only use BP fuel. More like a 5% saving in reality - last time I tried to use the offer I also had an issue with the app and so filled up at the local Tesco and price was £1.17 rather than £1.23 at BP. It is still a saving but not worth the hassle.

DavidL

Check that your local BP station is participating first. None of the BP stations near me is on the list!

I remember when all the building societies switched to banks and gave windfalls to customers, kept my nationwide account ever since just on the off chance the same thing eventually happens ;)

deleted2170435

I've been with nationwide for 2 years now and never had a problem with them yet.

LankyChris

A 'friend' from hukd recommended me. Once my switch to Nationwide completed they got £100 for referring and I got £100 for switching. Then I recommend my partner to join Nationwide. Once her switch competed she got £100 for switching and I got £100 for referring her, making £300 in total between me and her!

Freeyoncé

Huh?

318°
Expired

Posted 20th Jan 2019Posted 20th Jan 2019

£5 off £40 Fuel at BP via Nationwide Simply Rewards and BPme

It’s come back again... Those with a nationwide account, can sign up to nationwide simply rewards free nationwide.visaoffers.eu/signin Then pay for your fuel at BP using your na… Read more

Perhaps you have used this offer before, I have used the same offer twice before, it is not on mine this time.

DavidL

Check the BP site first - none of the BP garages near me are in the scheme!! Good deal if you have a participating BP garage near you. Waste of time otherwise!!

volksdub

I had this deal on my Amex but it was £10 credit for a £40 spend. 1st time I tried it failed saying my bank had refused payment. 2nd time the pump unlocked and said leave the phone in the car and begin filling. I set it to £50 and suspected something was wrong when the pump just kept going past £50, so I checked my phone before driving off to see a message saying something has gone wrong and to pay inside the station. Went into pay but was still charged the £50 on the app &amp; in the station. Took 7 days for the refund to take place. I have seen this offer on my first direct card and my nationwide card, but I won’t be trying again.

FlashJordan

Wow! I didn’t even know Nationwide Simply Rewards existed and I’ve been a member for years. Heat and thanks OP.

Yes - I was a mortgage customer only at first and could create referrals - they'll ask you for current account details where you want the referrals bonus paid to (can't be paid to mortgage account).

itsnotmeitsyou

A referral only involves sending your friend a link which contains a unique code so no details are shared which is obviously good. Worked well for me and I think Nationwide's app is one of the better bank apps.

lanc1979

How to talk about referrals without talking about referrals.

lanc1979

Yep I've done about 6 transfers for various folk now. I started by transferring in wife using my mortgage account (£100 for me, £100 for her), then my wife referred me for current account (£100 for me, £100 for her), then I've done various other transfer for other people (£250 and counting). Been a nice little money earner so far (y) Problem is HUKD deletes referral posts - so this whole thread is skirting a bit close to the rules, and will probably be deleted, cos no one can write what they actually want to write.

Met-Cast

Nevermind Your friend will need to:switch their main current account to a Nationwide FlexAccount, FlexDirect or a FlexPlus account

Hasn't Martin Lewis said that most institutions on the high street will be going that way as they can't charge separate for unarranged and arranged overdraft. Or something along them lines.

BangingHotDeal

Depends how you look at it, 39.9% isn't too bad compared to £1/£2 a day if you only owe them a small amount There are people paying £30 a month to lend £100 overdraft £360 per year and using £100 per month so only ever borrowing £100.

merlinthehappypig

And that they have removed the 3% interest from the first £2500 balance. I don't ever use my overdraft, but the fact that they feel that as a member run building society they can charge 39.9% interest is disgraceful. It's worse than some of the dodgy credit cards. I've been with them 20 years, but moving now.

i took out tracker mortgage a year past August and got £500 as a first time buyer. The Bank of England rates went up so my Mortage was due to go up in December 2019. I just happened to check their website and they had as slightly cheaper tracker mortgage. I went into my local branch and asked if I would be able to swap to the new rate given I'd only made two payments to my new mortgage and they said yes plus I'd get the £100 switching bonus you refer to. So that was me £600 up just before Christmas. The rates changed again and my so did Nationwide, as they had a slightly cheaper rate again so clicked a few buttons and changed again. Yip £100 cash back again. I only had my mortgage a year and I ended up with an interest free mortgage when you take the cash back into account plus money in my pocket. Ok it wasn't a large mortgage compared to many but still scary to me. So I don't think there is any limits as to how often you can switch on a tracker as I certainly had no problems and the staff at my local encouraged me. No sign of additional credit checks either. Hope this helps.

bobcoyle77

Nationwide by default pay £100 for each account switched. There was a thread a while back and one chap had 5 accounts. If your fixed is due to end they pay £100 to swap to penalty free tracker and again of you then swap into a fixed later down line.

bobcoyle77

Sean, you've missed my point my friend. You would have got cashback from broker and Nationwide. Like I did, this is what I was implying. Thanks for posting and spreading the savings! All the best.

seancharles

Yeah I have looked but if you are switching between trackers it'll work, but it makes it pointless if you choose a product with fees. Its an interesting proposition and to be honest if they drop the 2 year tracker I'm going to give it a go and see if I get it again

karina80

I wonder how often you can get this. If your in a tracker you could technically switch a few times a year if the rates hold. Perhaps it’s capped at once a year. Could prove an interesting loophole.

-34°
Expired

Posted 23rd Nov 2018Posted 23rd Nov 2018LocalLocal

1% cashback from ao.com on next purchase (Nationwide Visa offers)

Terms and conditions: To redeem this offer, you will need to make a purchase at ao.com. Offer valid for one purchase completed online. Reserving online and paying in-store will no… Read more